Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased by 24%
The figures in Quarter 3 (Q3) July to September 2023 showed 62 company insolvencies in Northern Ireland in Q3 2023, an increase of 24% from the same quarter of 2022.
The business insolvencies comprised 30 compulsory liquidations, 23 CVLs, eight CVAs and one administration. There were no administrative receiverships.
The figures also showed 376 personal insolvencies in Northern Ireland, 14% down on the same quarter of 2022.
The personal insolvencies comprised 295 IVAs, 41 DROs and 40 bankruptcies.